Democrats in the U.S. House of Representatives are saying that guidance issued by the Justice Department on how prosecutors should select monitors for deferred prosecution agreements falls short of addressing broader concerns about possible conflicts of interest. The Justice Department issued a memo on March 7 outlining principles that prosecutors should use when assigning corporate monitors to deferred prosecution and nonprosecution agreements after coming under fire for awarding a $25 million monitoring contract to a firm run by former Attorney General John Ashcroft. The memo "fails to ensure uniformity in the agreements themselves," said Representative John Conyers, a Michigan Democrat,...
The U.S. Justice Department revised guidelines on prosecuting corporate wrongdoers Thursday, following pressure from lawmakers and businesses that said it had overzealously pushed companies to waive their attorney-client privileges.
U.S. authorities have unfairly escalated the penalties for Bank Secrecy Act violations by overusing criminal proceedings in cases that should be considered civil matters to be solved by regulators, legal professionals say.
Knowing and adhering to federal prosecution guidelines and giving "unfettered cooperation" to the U.S. Justice Department in criminal investigations are a bank's best defenses against indictment and can help secure a less painful deferred prosecution agreement.